SIFMA provides comments to the U.S. Department of Treasury and the Internal Revenue Service (IRS) on regulations proposed under the Foreign Account Tax Compliance Act (FATCA).  While the groups believe the proposals have greatly improved upon the guidance provided earlier in various notices, they remain concerned with many aspects of the proposed regulations. The groups emphasize the importance of developing regulations that are sufficiently flexible to accommodate the many ways different countries approach various industries such as retirement planning.